Peter Fader: Customer Centricity is Not About “The” Customer

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Wharton School Professor of Marketing Peter Fader sometimes wishes he never used the words “Customer Centricity” in his first book, Customer Centricity, and his latest, The Customer Centricity Playbook. Because, to him, it’s not about THE customer, or even all customers. Rather, it’s about using data to figure out who are your most valuable customers. Those are the ones to center around. Fader joins the podcast for a discussion about the quantitative (or math) side of customer centricity and why we should all be celebrating “customer heterogeneity.”

Listen to this episode to learn:

  • Why CMOs should be thinking like CFOs and embrace customer-based corporate valuation and customer lifetime value (CLTV)
  • The actuarial science of predicting how long customers will “buy till you die”
  • Why companies need to analyze customer behavior within AND across cohorts
  • Why many companies are paralyzed with fear that they might suffer a viral customer service mishap and become the next “United Breaks Guitars”
  • How the valuations of IPOs like Lyft, Slack, Blue Apron, and Uber look different when you filter them through the customer lens
  • The one piece of advice Fader would give to marketers and executives

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